Bob Hoye of Institutional Advisors rejoins the show with an update on the Bitcoin phenomenon. For the first time in economic history, the masses have a chance to grab the reigns of the money supply, central banks are no longer required, at least in the digital realm. While institutions such as JP Morgan spread negative rhetoric on the cryptocurrencies, many continue to secretly accumulate vast stockpiles of Bitcoin, including JP Morgan. While Elliott wave analysis suggests that Bitcoin should retrace from the recent $5,000 peak to at least $2,600, perhaps even further, the rocketship could continue unabated skyward to $10,000. Nevertheless, the PTB will continue to struggle against cryptos as their system unravels at an increasing pace. Similar to 1914 as the Pound Sterling began to wane as the de facto reserve currency due in part to national debt accumulated from two World Wars, the Greenback is now jeopardized by the introduction of a gold backed petrol contract in China. Ergo, the petrol-dollar arrangement of 1974 must now compete in the East with a petrol-gold-Yuan alternative. Financial bubbles are now the new norm, including junk bonds, US equities, domestic real estate in Canada and even some cryptocurrencies. A few legendary technophiles, such as John McAfee and Marketwatch.com are suggesting that Bitcoin could climb to a peak of at least $500,000, in three years time. The S&P has eclipsed year 2000 bubble levels by many metrics, including P/E ratios and Bob Hoye's top indicators. The credit spread and yield curve remain positive, so equities could continue to surprise on the upside, but the risk may not warrant a meager expected return.